SEPTEMBER 2024

Tuesday Tips

Get Ready to File the 2025-2026 FAFSA

Attend a Financial Aid Information Session

Financial aid is a world of its own! Let FAME help you prepare to file the FAFSA and understand what to expect as you navigate the financial aid process. FAME offers both in-person and virtual Financial Aid Information sessions. You'll find a schedule of sessions on our website. In-person sessions are open to all and do not require registration. Virtual sessions require registration; you’ll receive a confirmation email with the Zoom link. 

Create Federal Student Aid Accounts (FSA IDs)

The first step in the FAFSA filing process is to create a Federal Student Aid account at StudentAid.gov. When you create an account, you set up an FSA ID (username and password). Your FSA ID is how you will access the StudentAid.gov website, including the FAFSA, and it serves as your legal signature. All students need their own FSA ID. If parent information is required on the FAFSA, at least one parent will need their own FSA ID. To learn more about creating an FSA ID and who needs one, go to FAMEmaine.com/FAFSA.

Build a List of Schools

When filing the FAFSA, you’ll list all the schools you want to receive your FAFSA data (even if you haven’t yet applied for admission). We encourage you to apply to a variety of schools, so you’ll have options that are a good fit academically as well as within reach financially. Here are some tips on searching for schools:

• Focus on net price, not sticker price. Net price is the cost of the school after grants and scholarships and better reflects of the actual cost of a school. To get a sense of net price, use each school’s Net Price Calculator, usually located on the school’s financial aid website. Sometimes schools with a higher sticker price are more affordable based on net price.
• Use the College Board’s Big Future website. This site includes over 4,000 schools and allows you to search for schools based on the criteria that matter most to you including major, location, size of school, campus life, and affordability.
• Be sure the list includes at least one school that is affordable even without great financial aid.

Search for Scholarships

Scholarships are a great way to reduce borrowing or fill the gap if the financial aid offered is not enough. Start your search at FAMEmaine.com/scholarships, where you can find Maine-based scholarship opportunities, FREE scholarship searches, and a downloadable spreadsheet to track your scholarships. Also, ask your high school’s guidance department what scholarships are available through their office. The students who are most successful in their scholarship searches consistently spend an hour or two per week searching and applying for scholarships. You can do this, and it’s worth your time! 

Have the Chat

It’s a great idea for you and your family to talk about expectations around paying for higher education as soon as possible. Who is responsible for what and how much can you and your family afford? Check out these conversation starters to help ensure that everyone is on the same page. 

FAME is here to support you through this entire process. Let us know how we can help!

FAME's College Access and Financial Education Team

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